• Source:JND
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Paytm Payments Bank Limited (PPBL) declared in a notice that it will close a few accounts depending on the balance in them and utilization. In an official notice, the organization educated clients that accounts with inactive wallets, zero funds, and no exchanges all through the year will be deactivated and closed on July 20. Clients will likewise be educated regarding the approaching change around 30 days ahead of time.

Dear bank customer, kindly note that all wallets that have not had any exchanges throughout the previous year or more and have no funds will be closed starting from the week’s start. 20 July 2024, the notification said The notification adds that communications will be sent to all influenced clients and clients will be given a notice period of 30 days, before their wallet is closed.

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The progressions to PPBL accounts accompany the Reserve Bank of India’s (RBI) directions given in March prohibiting Paytm Payments bank account/wallet from tolerating any new stores or new accounts after March 15. Nonetheless, this doesn’t keep going clients who have the sum in their record from making a transaction or moving it to another bank account.

To make things simpler, PPBL has likewise mentioned and given guidelines on moving their assets from one PPBL account to another and shutting their wallets/accounts. PPBL gave a similar admonition in February expressing that dormant accounts without any exchanges, and so on. in the beyond three years will be closed on March 30.

How to avoid accounts closer

In case you have cash in your Paytm Payments Bank account and you have not utilized it for more than around a year, you can do any of the accompanying exercises on the record to keep it from being closed:

Reactivate bank account for Paytm payments- Open the Paytm application and click the PPBL option. Next, tap on the "Wallet" symbol. You will have a message on the screen saying “Wallet is inactive”. Click on the “Activate Wallet” option and follow the the further directions.

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